Republic of Korea: Waferboard Market 2024

Waferboard Market Size in Republic of Korea

In 2021, the South Korean waferboard market increased by 3.7% to $X for the first time since 2017, thus ending a three-year declining trend. Overall, the total consumption indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Waferboard Exports

Exports from Republic of Korea

In 2021, exports of waferboards from South Korea dropped to X cubic meters, reducing by -11.5% against 2020 figures. Overall, exports, however, posted strong growth. The growth pace was the most rapid in 2013 with an increase of 736% against the previous year. Over the period under review, the exports reached the peak figure at X cubic meters in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, waferboard exports amounted to $X in 2021. In general, exports, however, continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 639%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Japan (X cubic meters), Kazakhstan (X cubic meters) and Malaysia (X cubic meters) were the main destinations of waferboard exports from South Korea, with a combined 73% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Kazakhstan (with a CAGR of +82.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Kazakhstan ($X) remains the key foreign market for waferboards exports from South Korea, comprising 62% of total exports. The second position in the ranking was held by Japan ($X), with a 19% share of total exports. It was followed by India, with a 10% share.

From 2012 to 2021, the average annual growth rate of value to Kazakhstan totaled +95.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+1.8% per year) and India (+1.3% per year).

Export Prices by Country

In 2021, the average waferboard export price amounted to $X per cubic meter, rising by 18% against the previous year. Overall, the export price, however, continues to indicate a slight slump. Over the period under review, the average export prices hit record highs at $X per cubic meter in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was India ($X per cubic meter), while the average price for exports to Kenya ($X per cubic meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (+16.4%), while the prices for the other major destinations experienced more modest paces of growth.

Waferboard Imports

Imports into Republic of Korea

In 2021, overseas purchases of waferboards were finally on the rise to reach X cubic meters after two years of decline. In general, total imports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 32%. Over the period under review, imports attained the peak figure at X cubic meters in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, waferboard imports rose to $X in 2021. Overall, total imports indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -37.3% against 2017 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 48% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Thailand (X cubic meters) constituted the largest waferboard supplier to South Korea, with a 45% share of total imports. Moreover, waferboard imports from Thailand exceeded the figures recorded by the second-largest supplier, Malaysia (X cubic meters), more than tenfold. The third position in this ranking was taken by Indonesia (X cubic meters), with a 1.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Thailand totaled +4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-11.6% per year) and Indonesia (+23.5% per year).

In value terms, Thailand ($X) constituted the largest supplier of waferboards to South Korea, comprising 48% of total imports. The second position in the ranking was held by Malaysia ($X), with a 1.9% share of total imports. It was followed by Indonesia, with a 1.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Thailand totaled +2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-12.1% per year) and Indonesia (+20.4% per year).

Import Prices by Country

In 2021, the average waferboard import price amounted to $X per cubic meter, approximately equating the previous year. Overall, the import price showed a noticeable slump. The most prominent rate of growth was recorded in 2017 an increase of 17% against the previous year. As a result, import price attained the peak level of $X per cubic meter. From 2018 to 2021, the average import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Romania ($X per cubic meter) and Malaysia ($X per cubic meter), while the price for Indonesia ($X per cubic meter) and Thailand ($X per cubic meter) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+0.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :